Used as an intermediate in organic synthesis, particularly in the preparation of pharmaceuticals and agrochemicals. Its structure allows for selective functionalization in multi-step reactions, making it valuable in the development of complex molecules. Commonly employed in cross-coupling reactions such as Suzuki, Heck, or Stille reactions to build biaryl systems. Also utilized in the synthesis of fluorescent dyes and optoelectronic materials due to the naphthalene backbone's inherent photophysical properties. The hydroxyl group enables further derivatization, such as esterification or ether formation, while the bromine substituent serves as a good leaving group in metal-catalyzed coupling reactions.